Could it be Obama was RIGHT about GM?

[rdean]

SHANGHAI (AP) -- General Motors Co. said Monday demand in China is so strong that the company's annual sales may top 2 million vehicles this year -- four years ahead of schedule -- and could exceed 3 million by 2015.

GM is counting on robust growth in China, India and other emerging markets to help offset weakness in its home U.S. market as the Detroit automaker struggles to return to health after its near-collapse in 2009.

The company, which reported a $3.4 billion loss in the last quarter of 2009, plans to pay off billions of dollars in loans from the U.S. government by June, five years ahead of schedule, and says it could report a profit as early as this year.

GM China Sales May Exceed 3M Units By 2015

If we had listened to the Republicans, General Motors would be dead and gone. So many more people out of work. Not just those that work at General Motors, but also all the suppliers, engineers. Plus the people who work in any community around GM.

I wonder how much interest the US is getting from GM loans?

You have to admit, so far, Republicans have a "perfect" score. Wrong about everything.

Wrong about Iraq

Wrong about Afghanistan

Wrong about the economy

Wrong about health care

Just, well, "wrong".

 

[rdean]

Still waiting for Republicants to explain why Obama was wrong to help GM.

 

[dilloduck]

Stay right here and don't move---one will be with you shortly.

 

[rdean]

Stay right here and don't move---one will be with you shortly.

OK, I'm still here.

Do Republicans feel it would have better for all those people to lose their jobs?

 

[Neubarth]

Still waiting for Republicants to explain why Obama was wrong to help GM.

I'm a Democrat, but so far have not seen any justification for Obama's destruction of GM and sell out of Chrysler to the Italians. All we have from GM is projections of profitability some time in the future. Chrysler?

 

[Sofus]

I almost fainted, you don't see the words Obama and right together to often in print! Thanks for the article

 

[rdean]

Still waiting for Republicants to explain why Obama was wrong to help GM.

I'm a Democrat, but so far have not seen any justification for Obama's destruction of GM and sell out of Chrysler to the Italians. All we have from GM is projections of profitability some time in the future. Chrysler?

This:

GM's China sales jumped 68 percent in March over a year earlier to a monthly record of 230,048 vehicles, propelling a 71 percent surge in first quarter sales to 623,546 units.

is obviously more than a "projection".

Just saying.

 

[rdean]

Conservatards will never admit Obama was right.

 

[Neubarth]

Still waiting for Republicants to explain why Obama was wrong to help GM.

I'm a Democrat, but so far have not seen any justification for Obama's destruction of GM and sell out of Chrysler to the Italians. All we have from GM is projections of profitability some time in the future. Chrysler?

This:

GM's China sales jumped 68 percent in March over a year earlier to a monthly record of 230,048 vehicles, propelling a 71 percent surge in first quarter sales to 623,546 units.

is obviously more than a "projection".

Just saying.

You are totally out of touch with reality. This is not a product of fantastic GM engineering or sales related to a newer superior product. This is a direct reflection of the Chinese stimulus package and the fact that the upperclass Chinese are using their home value appreciation to finance car purchases. (Oh my gosh, where have we seen this before???)

Now, the question remains, are sales up by a great degree globally?

Or, are we looking at projections for increased car sales if the present trend continues in China?

 

[boedicca]

Still waiting for Republicants to explain why Obama was wrong to help GM.

There were other remedies for GM.

If the business prospects are so good for China, there is no reason why private investors could not have restructured the company, and moved forward with better designed operations (and union comp plans and benefit packages).

Instead, Obama violated the property rights of the bond holders (debt has first claim on assets) by cramming them down - and rewarded the union with the spoils. That was the point after all.

Bond holders will remember this. The U.S. has a ton of debt which will need to be rolled over. As Obama was willing to disregard the valid claims of the GM bond holders and is engaged on structurally damaging spending binge, the market will see higher interest rates to compensate for the risk. It's already happening - and in the forseeable future, the higher debt and interest rates will cause the annual interest payments to be approximately $1T (and overwhelming burden on the economy).

 

[Care4all]

Well, from what I had read, due to the Bank Failures, it was hard to get the financing from them, the private sector, at the time....

And this really could be true...

Not trying to make excuses for GM or for Obama in helping them...just saying, getting financing for huge business ventures was near impossible at the time....not due to any involvement of theirs in the housing market crash either....

We made money from the Chrysler bail out many moons ago...let's us just pray we make a profit off of the stock we own in GM as well....

three Cheers for GM!

We need and should WANT them to be very successful...it will only strengthen the U.S. in the long run....

 

[boedicca]

It's not the role of the Federal Government to make profit off of businesses.

GM could have gone through bankruptcy proceedings and restructured, which would have involved significant changes to union contracts. Obama's major issue was the need to pay off unions.

That was the agenda.

There is also another question to consider: How many people in other businesses have lost their jobs and are currently unemployed because the government diverted taxpayer money to GM? With 15M unemployed (44% for longer than 6 months), the pall that government spending and debt are placing on economic growth is more damaging than letting GM go through bankruptcy.

 

[tigerbob]

SHANGHAI (AP) -- General Motors Co. said Monday demand in China is so strong that the company's annual sales may top 2 million vehicles this year -- four years ahead of schedule -- and could exceed 3 million by 2015.

GM is counting on robust growth in China, India and other emerging markets to help offset weakness in its home U.S. market as the Detroit automaker struggles to return to health after its near-collapse in 2009.

The company, which reported a $3.4 billion loss in the last quarter of 2009, plans to pay off billions of dollars in loans from the U.S. government by June, five years ahead of schedule, and says it could report a profit as early as this year.

GM China Sales May Exceed 3M Units By 2015

If we had listened to the Republicans, General Motors would be dead and gone. So many more people out of work. Not just those that work at General Motors, but also all the suppliers, engineers. Plus the people who work in any community around GM.

I wonder how much interest the US is getting from GM loans?

You have to admit, so far, Republicans have a "perfect" score. Wrong about everything.

Wrong about Iraq

Wrong about Afghanistan

Wrong about the economy

Wrong about health care

Just, well, "wrong".

It was an interesting question until you mixed in all the other stuff at the end turned your OP to mindless partizan shit.

 

[eagleseven]

We're providing taxpayer money to fund a corporation that is manufacturing and selling cars in China?

You see nothing wrong with this?

 

[boedicca]

It makes as much sense as using Stimulus Funds to finance oil exploration off the coast of Brazil.

 

[tigerbob]

We're providing taxpayer money to fund a corporation that is manufacturing and selling cars in China?

You see nothing wrong with this?

GM is a global business.

 

[Care4all]

We're providing taxpayer money to fund a corporation that is manufacturing and selling cars in China?

You see nothing wrong with this?

They did not get stimulus money for this, they got bail out money for this!

Get it straight!

Sadly, yes...because we own stock in this company....via the bailout....we got preferred stock in the company, then however they make a profit, we need them to make a profit.

Do I like that they are a global company....I dunno? It seems to be the norm with most all corporations these days.....

 

[xsited1]

Could it be Obama was RIGHT about GM?

Obama was wrong about GM and so were many Republicans. Some Republicans remember how important the auto makers were during WW-II and believe they should be kept afloat at all costs. Taxpayers should never be on the hook to bail out private companies and definitely not be forced to bail out companies that have made terrible decisions time and again. That's just common sense. I don't care how much better GM is doing now.

Imagine how many start-up companies never came into existence because taxpayers were forced to bail-out a failing company? I have no doubt that better, more productive companies would have taken GM's place. Unfortunately, Obama intervened to maintain the status quo and we will all suffer as a result.

 

[Care4all]

Could it be Obama was RIGHT about GM?

Obama was wrong about GM and so were many Republicans. Some Republicans remember how important the auto makers were during WW-II and believe they should be kept afloat at all costs. Taxpayers should never be on the hook to bail out private companies and definitely not be forced to bail out companies that have made terrible decisions time and again. That's just common sense. I don't care how much better GM is doing now.

Imagine how many start-up companies never came into existence because taxpayers were forced to bail-out a failing company? I have no doubt that better, more productive companies would have taken GM's place. Unfortunately, Obama intervened to maintain the status quo and we will all suffer as a result.

you can disagree with bail outs, and i am with you 100%...

BUT what is done is done....and we must move onward from there and WISH the very best for GM at this point in the game....hoping for their success is wishing for our own success, which is getting our money back, by them being successful and the value of the company's stock going up.

As with every thing in life, one must decide on where to go from any given moment...and in this moment, I wish for GM'S success!!!!

 

[Douger]

We're providing taxpayer money to fund a corporation that is manufacturing and selling cars in China?

You see nothing wrong with this?

GM is a global business.

Soon to be a global business with it's home base in Beijing.
Detroit will be a field for growing biofuel to sell them so they can drive their Chevy's.
I can hear Monsanto's bulldozers from here.